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britain should leave the e.u. and what that would mean. that has a lot of people talking here about the implications for the u.k., for europe. whether -- we had this big discussion about new york versus london. what happens to the banking system. what happens to the financial? that is the u.k. that's become a big i issue. let's bring in a good friend, as i said, of "squawk." bob hormatz, you know him well. a new -- not a fancy new title, but you're the under secretary of state for economic growth, energy, and the environment. that changed a year ago? >> yes, we tried to pull these together. increasingly what happens in the economy has an impact on the environment. environmental issues and energy issues are increasingly intertwined. >> always big in davos. and david cameron, it has an impact on the global economy if this were to go forward. the chances of it going forward i think are small. he has to get re-elected in 2015 to propose the up or down vote in 2017. it does put a cloud over the u.k. and e.u. a bit. >> the u.s. view has been not to get involved in u.s. politics. the u.s.
. i want you to react. start with number 10, that eu structural problems we main unresolved. when i first heard that, i don't think they will be unresolved. you're right, the market has bid things it's looking like the world is better. >> last year, all the european markets were up and europe was in a semi-recession and all the european markets were up semi-20% and i have them down this year in reaction. >> what about the euro? >> euro is relative to the dollar. ecb expanding the money supply and fedex spanding money supply. it's a race to the bottom. i don't know who will win it but i don't think there will be much change to the euro. >> i don't think euro ever resolves this issue, does enough to put them off when under pressure. >> sounds familiar. >> that's the environment we're in. i do think the markets are signaling core europe and stock growing again this year, growing uf to keep the eurozone out of its recession. if that doesn't happen, markets will go down. >> the surprise component of that is the 10% decline in the various european indexes. that's what people aren't prepar
cameron speaking this morning. does that have any impact on your business? >> it does in a way. because u.s./eu trade is the one trade agreement that the u.s. has not done. that the europeans desperately need to get done. >> right. so the uk being part of that yes or no i would venture to say our government is going to have a lot to stay about the uk staying part of the eu i think as has been indicated. >> did you catch any of the comments about tax avoidance, sort of global tax avoidance issue? >> no, i did not. i'll stay quiet on that one. >> the other big topic here, energy. >> yes. >> and in particular, the u.s. energy situation, shale, fracking, et cetera, you bullish, you bearish, where do you think we really are? i mean people have prognosticated for now awhile that we were going to get there but doesn't seem like we're there. >> andrew, i think it is the bull case for the world. so to answer your question, i'm billish. and i think it's a game changer. and i think it is probably the story of global economic recovery if handled right. and frankly, the beneficiaries of that will be the u.s
. bmw the standout, up .4. there were only two countries in the whole of the e.u. where they improved new car registrations, one was the u.k. although the wider economy is fairly weak. and with bond yields heading toward the u.s. session later, gild lower. and it is worth pointing out that there was a syndicated $6 billion 15-year issue. they're looking to raise $3 billion to $5 billion. italy nearly raised 10% of required funding for the year. they're frontloading debt kwa t requirements as they should over the first couple of weeks. that's where we stand in europe. back to you. >> a 50-year issue. holy smokes. thank you. >> 15 -- >> 15? oh, i misheard. that was the italians, right. >> 15. >> got it. >> yeah. >> thank you. >>> coming up, the state of the financial -- see, i'm glad i asked. the industry's leading trade group joins us to talk profits, regulation, and a whole lot more next. >>> first, heading to break, look at yesterday's winners&losers. ♪ [ male announcer ] don't just reject convention. drown it out. introducing the all-new 2013 lexus ls f sport. an entirely new pur
cameron puts off his big eu policy pictures first. the fed putting out a statement saying there are less than 30 british nationals overnight in those events. in the meantime, a moratorium indicating that the terrorist groups are going to use these kidnappings as a way of furthering their activity and raising funds. they're warning algerians, in fact, to stay away from some of these sights and is we've had guests this morning telling us that they think the market is underappreciating that this is a game changer in activity not just in mali, but across west africa in general. lastly, the aussie/dollar is down, too. there is some risk coming out in this risk off despite stocks doing better. the dollar/yen had punched through 90. it's now below 89. that was above 1 is.25. it's moving back to some of its gains. so some major levels hit in forex today, guys. it's not just about 1500 on the s&p. although to be sure, people around the world will be watching that level, as well. back over to you. >> kelly, are you behind the jap foes because they are the ultimate kainsians at this point? >> no. w
saying eu commission, the european union body is basically saying no-go with the deal. it was sproefd to close towards the end of the last year. obviously, hasn't happened. today you can see the shares down 40%. this company is going to need a new ceo, a new strategic vision. and its biggest shareholder down about .3% on the news. fedex declined to comment this morning. now let's turn our attention briefly to this. it gives us a sense of this mentality of the crisis being over, that it's kind of gripped investors to keep hearing the bullish comments we have on people in the program. spain's ten-year still below 5% even though we're seeing prices down this morning and the yield for the ten-year in italy down 4.2. quick look at the euro/dollar which is benefiting here and has been doing pretty well of late. 1.3359. adding another .1%. just for joe, i'm going to skip talking about the yen today and that's in part because the nikkei is closed. back to you guys. >> i thought you were going to reference your -- is that a golden -- were you at the gold b globes? that looks like you paid some
versus the dollar. and you can see right now, the dollar is stronger against the eu euro. gold prices are down by about 6.30, $1675.30 an ounce. right now, let's get to the global markets report. ross westgate is standing by in london. good morning. we haven't seen you in quite a while. you have a lot of red behind you this morning. >> we have, indeed, becky. i saw andrew more recently than i've seen you over there in davos. yeah, look, we are down. you can see decleaners outpacing the decliners. we're down at the session low. down around .0. the spanish market down 1.5%. that's down to bank stocks. they're all off heavily because of santander. santander is europe's largest lender in the eurozone. stock off 2.3% today. there's 2012 net profit more than halved hurt by big losses in real estate, write-downs and property assets. also key growth spots as latin america down, as well. they're setting aside another 18 billion or 19 billion euros for provisions in 2012. they said they may still sell some more addette az. there's a lot of restructuring going on, as well. the market has been fo
Search Results 0 to 6 of about 7